FEPI Fees and Costs — REX FANG & Innovation Equity Premium Income ETF
Data updated: 2026-10-13
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.5M in broker commissions, 0.2562% of average net assets, and portfolio turnover was 129%.
FEPI Fees and Expenses
Annual operating expenses and sales charges of FEPI. Prospectus, as of November 26, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
FEPI Costs Over Time
On $10,000 invested in FEPI, assuming 5% a year before costs, total costs come to $568 over 5 years, cutting the return by 0.95% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.65%) | $68 | $213 | $370 |
| Trading costs (broker commissions) | $27 | $84 | $146 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $312 | $568 |
| Value after costs | $10,405 | $11,264 | $12,195 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
FEPI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.2562%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $435.1M
- Portfolio turnover (prospectus): 129%
FEPI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $1.3M | 85.22% |
| Old Mission Markets LLC | $201K | 13.04% |
| Goldman Sachs & Co. LLC | $24K | 1.53% |
| Citigroup Global Markets Inc. | $3K | 0.21% |
FEPI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $215.4M | 49.51% |
| Goldman Sachs & Co. LLC | $179.0M | 41.15% |
| Morgan Stanley & Co. LLC | $30.6M | 7.04% |
| J.P. Morgan Securities LLC | $10.1M | 2.31% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.